RBS support for Dover Western Docks Revival
Major bank provides financial backing to drive forward regeneration
The Port of Dover’s biggest ever single investment, the Dover Western Docks Revival, has received funding support from the Royal Bank of Scotland (RBS).
RBS have agreed to help to provide a loan facility of £90m to add to cash resources and long term debt finance agreements already available for the development.
Progress continues to be made with the regeneration vision in the Western Docks and the fact that the project has gained the confidence of a major bank proves the ports’ commitment to its ambitious regeneration aspirations. The project will create much needed high quality employment opportunities for local people and support the Port of Dover’s commitment to becoming the best port in the world for the benefit of its customers and community.
Tim Waggott, Port of Dover Chief Executive commented: “This is the Port of Dover’s biggest ever venture and as such is a costly endeavour. We need investment from other sources to be able to meet our ambitions for the Dover Western Docks Revival project and are delighted that RBS have the confidence in the Port, and our vision for Dover, to provide us with this financial assistance to continue to move forward towards completion.”
John Redfern, Head of Corporate South East, RBS added: “It’s fantastic to be able to support a development that will have such a positive impact for the local community and builds Britain’s maritime heritage and trade globally.”
Posted on 14/06/2016